Shares of Desktop Metal, Inc. (NYSE:DM – Get Rating) have been assigned an average recommendation of "Hold" from the eight analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $4.46.
Several equities research analysts recently weighed in on DM shares. Credit Suisse Group initiated coverage on Desktop Metal in a report on Tuesday, August 16th. They set a "neutral" rating and a $2.80 price target for the company. Benchmark reduced their target price on shares of Desktop Metal to $6.00 in a research note on Monday, August 15th. Finally, Craig Hallum boosted their price target on shares of Desktop Metal to $2.50 in a research note on Monday, August 15th.
Get Desktop Metal alerts:Insider Buying and Selling
In other news, CEO Ric Fulop acquired 30,000 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $3.09 per share, with a total value of $92,700.00. Following the purchase, the chief executive officer now directly owns 20,253,999 shares of the company's stock, valued at approximately $62,584,856.91. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have purchased 41,000 shares of company stock valued at $127,960. Corporate insiders own 16.78% of the company's stock.
Institutional Trading of Desktop Metal
Several large investors have recently modified their holdings of DM. Rothschild Investment Corp IL purchased a new stake in shares of Desktop Metal in the first quarter valued at $47,000. Blair William & Co. IL purchased a new position in shares of Desktop Metal during the 4th quarter worth about $65,000. Squarepoint Ops LLC boosted its position in shares of Desktop Metal by 33.0% in the fourth quarter. Squarepoint Ops LLC now owns 447,342 shares of the pipeline company's stock worth $2,214,000 after acquiring an additional 111,109 shares during the last quarter. Greenwood Gearhart Inc. increased its holdings in shares of Desktop Metal by 3.7% during the 4th quarter. Greenwood Gearhart Inc. now owns 662,593 shares of the pipeline company's stock worth $3,280,000 after buying an additional 23,913 shares during the last quarter. Finally, Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Desktop Metal in the 1st quarter valued at about $95,000. 36.62% of the stock is currently owned by institutional investors and hedge funds.Desktop Metal Stock Performance
NYSE DM opened at $3.19 on Friday. The company has a fifty day moving average of $2.88 and a two-hundred day moving average of $3.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.32 and a quick ratio of 3.37. Desktop Metal has a 1 year low of $1.26 and a 1 year high of $9.69. The company has a market capitalization of $1.01 billion, a PE ratio of -1.90 and a beta of 0.25.
Desktop Metal (NYSE:DM – Get Rating) last released its quarterly earnings results on Monday, August 8th. The pipeline company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.07). The firm had revenue of $57.67 million for the quarter, compared to analysts' expectations of $55.70 million. Desktop Metal had a negative return on equity of 17.56% and a negative net margin of 275.35%. As a group, analysts expect that Desktop Metal will post -0.47 earnings per share for the current year.
About Desktop Metal
(Get Rating)
Desktop Metal, Inc engages in manufacture and sale of additive manufacturing technologies for engineers, designers, and manufacturers in the Americas, Europe, the Middle East, Africa, and the Asia- Pacific. The company offers Production System, an industrial manufacturing solution; Shop System, a mid-volume binder jetting platform; X-series platform for serial production binder jet 3D printed metal, ceramic, or composite parts, balancing speed, and quality; and Studio System, an office metal 3D printing system; and Fiber platform that offers a desktop 3D printer.
Recommended Stories
- Get a free copy of the StockNews.com research report on Desktop Metal (DM)
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- 3 Banks Worth Considering For Q4
- No One Told These 3 Stocks It's a Down Week
- MarketBeat: Week in Review 9/12 – 9/16
- Is There a Cure for What is Ailing Teladoc Stock?
Receive News & Ratings for Desktop Metal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Desktop Metal and related companies with MarketBeat.com's FREE daily email newsletter.